Security System Demand Leaps Amid Home Reno Boom
Latest consumer data reveals demand for security systems and home improvement items have leapt during the coronavirus pandemic, surging even prior to the Australian government’s HomeBuilder scheme.
Consumer data analysed by payment platform, Zip, reveals security installation, outdoor home improvement and renovation products notched significant increases during May 2020.
The result was concurrent with heightened demand for tradespeople such as electricians.
According to Zip data, installers of security systems notched a 133% lift in demand during May.
“We have been particularly interested in the bolstering of spend in the past quarter on building and renovation, which is interesting in light of the recent government stimulus package,” states Zip co-founder Peter Gray within his analysis.
The government’s newly implemented HomeBuilder Scheme offers $25,000 grants for new home builders (inc. renovations). Some commentators have questioned its relevance if the renovation boomed occurred prior to the scheme’s launch.
The news comes as crowds slowly start returning to shopping centres and hospitality venues as the Australian government relaxes coronavirus mandated restrictions.